And they want Corzine to be Treasury Secretary?
The state accumulated $31.9 billion in debt by the end of the fiscal year that ended June 30, according to a report the state Treasury Department released Friday. And because of the faltering economy, some money set aside to help repay it might instead be spent on other costs.
The debt is $2.1 billion more than it was a year earlier and gives the state the third heaviest debt load in the nation as a percentage of personal income, behind only Hawaii and Massachusetts, according to Moody’s Investors Service.
Nearly 94 percent of the debt increase was attributed to school construction and road projects, said Jim Petrino, deputy director of the Office of Public Finance, to members of the state Commission on Capital Budgeting and Planning.
(source)
Note that New Jersey also hasn’t voted for a Republican governor since Christine Todd Whitman. Hmm…
